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Inside the CFPB
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Short Takes: Top FHFA Regulator Bolts Agency for Private Sector / Why Did Walter’s Stock Get Hammered? / Community Banks Apparently Love Non-QMs / Homewood Introduces Stated-Income Product / Another Bite at the Refi Apple?

October 1, 2014
Paul Muolo and Brandon Ivey
Investors have been scratching their heads over the downdraft at Walter/Green Tree...
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CFPB Urges Mortgage Industry to Raise HMDA Issues Now

September 30, 2014
Thomas Ressler
Among other things, the CFPB is warning that the technical nature of the HMDA rule could cause operational headaches.
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The Flagstar Settlement: the CFPB Effectively Halts Servicing Sales

September 30, 2014
Paul Muolo
To some, the MSR transfer prohibition slapped on Flagstar is similar to the one New York regulators placed on Ocwen Financial regarding the Wells Fargo deal.
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Fitch: Borrowers at Risk When Mortgage Servicing is Off-Shored

September 30, 2014
Paul Muolo
Fitch does not single out any servicers by name, but it’s common knowledge that both Ocwen Financial and Nationstar Mortgage have thousands of servicing-related workers housed in India...
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Short Takes: MBA Involved With Nonbank ‘Working Group’ Too / An NPL ‘Brain Drain’ at Lone Star Funds / A $57 Million Problem for the FHLBs of Des Moines and Seattle / FHFA to IG: We Don’t Think So

September 30, 2014
Paul Muolo and Charles Wisniowski
One active NPL bidder has been Lone Star Funds, but sources tell IMFnews the hedge fund has been having a “brain drain” of sorts when it comes to talent.
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Ginnie Mae Tops Among Agencies in Financing Minorities

September 29, 2014
John Bancroft
Fannie, Freddie and Ginnie All saw most of their business come from borrowers earning less than $150,000 per year.
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Wells Fargo MSRs Targeted by Ocwen Starting to Run Off

September 29, 2014
Paul Muolo
The Wells-Ocwen MSR deal is still waiting for Lawsky's green light. But when that will come is another matter...
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Mortgage Unit of Home Builder Ready to Enter Non-QM Market

September 29, 2014
Paul Muolo
Pulte Mortgage will install a “modest price” adjustment on its non-QM loans.
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An MBS Program on Fire: Ginnie Mae

September 29, 2014
George Brooks
The Ginnie II program now accounts for up about 98 percent of new agency issuance.
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Short Takes: CFPB Slams Flagstar Over Mods / No, a New Mortgage Trade Group is NOT Forming / BofA Transferring MSRs to Shellpoint / Merger of Two FHLBs an Aberration? / NJ Senator Intros Share-Appreciation Mortgage Bill

September 29, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.
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Latest Imf News

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